Death Row Records Sold For $24 Million
June 26, 2008 at 5:12 AM (PT)
SUGE KNIGHT's legendary hip-hop label, DEATH ROW RECORDS, was auctioned and sold on WEDNESDAY for $24 million.
According to TMZ, GLOBAL MUSIC GROUP's President SUSAN BERG shelled out the cash, putting her in control of all the recordings by TUPAC SHAKUR, SNOOP DOGG and DR. DRE during their stay at the label. And as a bonus her purchase also includes an additional 20 unreleased 'PAC tracks.
Considered one of the most infamous labels from the mid-90's, former owner SUGE KNIGHT was forced by a bankruptcy court judge to auction all assets to the highest bidder.
The troubles began in 2005 when KNIGHT was ordered to pay $107 million to former partner LYDIA HARRIS who accused him owing her profits after she was forced out of the label. This caused SUGE to file for bankruptcy in APRIL 2006 when KNIGHT filed for federal bankruptcy.
Prior to BERG's purchase, WARNER MUSIC GROUP and KOCH RECORDS had also shown interest in buying the label's music catalog.